Venezuela’s economy grew 7.6% in the third quarter of 2021, according to Maduro

This content was published on Jan 15, 2022 – 23:57

CARACAS, Jan 15 (EFE): Venezuelan President Nicolas Maduro confirmed on Saturday, in his annual administration capitulation, that the Venezuelan economy grew 7.6% in the third quarter of 2021.

“In the third quarter of this year, the economy has already achieved a growth of 7.6% and specialized statistical institutions expect growth in 2021 by more than 4% of the Venezuelan economy, which is a great achievement for our country,” he said. The President at the Parliament House in Caracas.

He claimed that “after five years of financial persecution, embargo and economic and commercial boycott, we were able to revitalize the real economic forces of Venezuelan society, bypassing the conditions and activating the seventeen engines of the alternative Bolivarian economic agenda.”

The president emphasized that there was an increase in household consumption by 4.9%, which is a “concrete” economic indicator of the real economy, which has reacted for the better.

Similarly, he said there was an 8.7% increase in government consumption, which is “money in circulation in the economy,” as well as 3.1% growth in investment and 4.9% in exports, “over all,” non-oil companies. .

The government official noted that in 2021 80% of the “digital economy” has been reached in the Caribbean country, which he said is not what they aspire to but a “good step”.

He pointed out that Venezuela witnessed, last October, a new monetary transformation, the third in this century, in which six zeros were removed from the currency that was renamed the digital bolivar, which he described as successful.

In 2021 we had 201 million transactions recorded, an increase of 65% in economic transactions in the national currency of the bolivar because we were achieving mechanisms that allow the defense and recovery of the bolivar in the future and coexistence with the dollar and with other currencies and cryptocurrencies that operate in the national economy.”

However, he said Venezuela will “never give up” its national currency and that what is required is to recover it in order to generate “real wealth”. EFE

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